Question
Petra Co. has received the bank statement for the month of July, and in it the balance per bank is reported as 222,200 J.D, and
Petra Co. has received the bank statement for the month of July, and in it the balance per bank is reported as 222,200 J.D, and the accountant has prepared the accounting records and shows a balance per book as 211,100 J.D And Petra Co has the following information: 1. A deposit registered by the company on July 28th and received by the bank on August 1st of 8,600 J.D 2. Outstanding check no. 127 for 3,600 J.D , outstanding check no. 142 for 10,200 $ 3. Petra Co. wrote a check no. 136 for 5,000 $ and the bank correctly paid the amount , however Petra Co. recorded it as 3,808 J.D 4. ( debit memoranda ) There was s NSF check received by Petra Co. for 4,000 J.D 5. ( credit memoranda ) The bank collected a note receivable for 9,400 J.D , the note incurred interest revenue of 1,880 J.D and the bank collection fee was 2% of the note face value. Prepare the needed bank reconciliation ( show your work as every step has points associated with it) (5 points)Multi Line Text.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started